Programme Msc Management With Finance

The purpose of risk assessment is not to remove risks, but to take reasonable steps to reduce them. The process involves looking at the risk, and considering what can be done to make it less likely that the risk will develop into a reality. This can be done through implementing policies and codes of practice, acting in individual’s best interests, fostering culture of openness and support being consistent, maintaining professional boundaries and following systems for raising concerns.

risks and determine the likelihood and consequence of that risk occurring during the project. The

For the case study provided with this Assessment Task, you are required to review risk management processes and determine scope and objectives, taking into account stakeholder input and both internal and external environmental factors affecting the organisation. With the information gathered, you are

1.3- Explain what risk assessment is and how this is managed in the work setting.

* Estimate the risk level and probability and then determine the severity using the risk assessment matrix

3.4 Summarise the types of risks that may be involved in assessment in own area of responsibility

PROJ 420 Week 1 Course Project Assignment; Project Topic Proposal and Outline PROJ 420 Week 1 Discussion 1 Why Should We Practice Risk Management PROJ 420 Week 1 Discussion 2 The ATOM Risk Management Process PROJ 420 Week 2 Course Project Assignment; Project Sizing and Stakeholder Analysis PROJ 420 Week 2 Discussion 1 The Initiation Step PROJ 420 Week 2 Discussion 2 Risk Identification PROJ 420 Week 3 Course Project Assignment; Project Risk Breakdown Structure PROJ 420 Week 3

3.4 Summarise the types of risks that may be involved in assessment in own area of responsibility

This task requires you to carry out a risk assessment in a work environment. Include the full risk assessment as part of the information you include in your submission. A Care Plan for a service user based on the information will be provided and you will be required to evaluate the risk and make recommendations on improving the Care Plan.

Receiving effective information to allow the right information to assist with analyzing the risks involved. The effective information can be broken down in a work breakdown structure and tracked through a checklist. The tools and techniques that will assist in the accurate tracking and monitoring include an activity information checklist, interview methods that involve personnel with their direct work responsibilities. Additional techniques include studies conducted throughout the organization on processes and producers to include lessons learned from past projects. In analyzing risk there are two methods such as qualitative and quantitative risk analysis to assist in making the analysis process straightforward.

What will be the effect of the rapid gyrations in markets that emphasize the difficulties that accounting practices face in determining true performance costs and that forecasting programs confront in establishing the economic determinants of corporate planning? In addition to these challenges, many analytical and strategic evaluation approaches that are used in an attempt to identify and project how well a company is performing have been overwhelmed by the frequency and magnitude of these economic groundswells. In today’s competitive climate, where the changes outside a business exceed the productive changes within a business, a company’s future viability is clearly under enormous stress. To maintain business growth and a sustained economy, it is essential for managers to understand and find solutions for these and other fundamental wide-ranging issues. The bursting of the high-tech bubble both in many start-up companies and in major segments of established firms dissipated many entrepreneurial efforts and the large sums of money that were spent to create organizations that never earned a profit and were often hugely unsuccessful as business entities. However, this enormous cost to some companies also created beneficial impacts for many other companies in dealing with these fundamental wide-ranging issues. These beneficial impacts had

Advancing from level 2 to level 3 requires using a risk register. 'The Risk Register is a tool to assist Project Managers in identifying likely sources of risk and the impact they may have on achieving objective. ' (Government office from the North West,2008). The first step is a brainstorm session to identify risk that may affect the project. It is important that the risks are clearly defined so that the risk is understood clearly and can be tackled. Secondly, consequence and probability of risks need to be rated (e.g. 1-5) and define each rating by their impact or likelihood. Finally, multiply the ratings of consequence and impact, rank the risks from highest severity to lowest severity. (Government office from the North West,2008). Every risks should be assigned to a risk owner which is responsible for managing the risk, a risk response to minimise both the likelihood and impact of the risk and a target completion date for the mitigation. Regular risk reviews need to be done because risks might emerge or become no longer relevant constantly. However, the impact

Discuss the risk management process presented in the course text (Page 8 of session 1). Apply it to a specific risk present in your own workplace and pay particular attention to any secondary risks that may be introduced.

Concept of risk, risk assessment, risk management and how uncertainty affects the process will be discussed.

The most important part of the report was the control process, here I have suggest some control techniques to make the business more effective and developed contingency plans to come out successfully if any unpredicted or incident happen in the internal or external environment.